Adrian Inn

Hospitality for Sale
Sale Pending/Contingent
Catylist Listing ID: 30785732
Property Subtypes: Motel
Status: Pending/Contingent
Number of Units: 78 Units
Building Size (RSF): 36,620 SF
Gross Building Area: See Agent
Gross Land Area: 4.37 Acres
Sale Price: $695,000
Unit Price: $8,910.26 Per Unit
Ceiling: 9 ft.
Property Use Type: Business
Name of Establishment: Adrian Inn
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/26/2022

Overview / Comments

Two-story motel on over 4 acres with convenient access to West US-223 which is visible from the property. The motel features exterior corridors, 78 guest rooms, lobby, guest laundry, banquet room, manager apartment and outdoor courtyard.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $21,250 (Annual)
Assessed Value - Total($) $368,900 (Annual)

Additional Details

Nearest MSA: Adrian
County: Lenawee
Taxing Authority: City of Adrian
Tax ID/APN: XA0-100-0281-00
Zoning: B-2
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: West US-223 and Stratford Drive
Property Visibility: Excellent
Largest Nearby Street: West US 223
Highway Access: 0.1 mile from West US-223
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Average
Year Built: 1966
Year Renovated: 2002
Roof Type: Flat
Construction/Siding: Brick
Average Occupancy Rate: 24
Exterior Description: Exterior corridors, outdoor courtyard, grassy area along the courtyard and to the south of the building.
Total Parking Spaces: 100
Parking Type: Surface
Parking Description: Approximately 100 paved parking spaces to north, east and south of the building
Laundry: Shared
Heat Type: Natural Gas
Heat Source: Wall Units
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: Community Business District
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Utilities
Legal Description: BEG IN CL US 223 368.65 FT WLY FROM NW COR E 1/2 SE 1/4 SEC 33 TH S 0^ 39' E 985.69 FT TH S 71^ 45' W 26.26 FT TH N 31^ 20' W 480 FT TH N 0^ 39' W 365.5 FT TH S 89^ 17' W 30 FT TH N 0^ 39' W 15 FT TH N 89^ 17' E 125 FT TH N 0^ 39' W 200 FT TH ELY 175 FT TO POB

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,742 27,394 41,128
Median Age: 32.37 35.92 37.54
Households: 1,929 10,268 14,524

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